Posts Tagged ‘Debt Counseling’

MANY consumers are drowning in debt due to the economic crisis sweeping the country.

The rising cost of living is compounding the economic woes of already over-indebted consumers, who simply can no longer afford their debt or adequately provide for their families.

To a large degree, the problem was brought about by consumers who, during the good times, over-exposed themselves to credit and which creditors were all too eager to provide.

No-one, however, anticipated the economic downturn and consumers are left to their own devices to survive the situation.

Consumers consequently often find themselves in a state of hopelessness which negatively impacts on the wellbeing of both the family unit and communities.

Instances of depression, family violence and substance abuse increases accordingly and, in extreme circumstances, even suicide.

The workplace is also not immune to the effects of the economic crisis in that it leads to a lack of productivity and absenteeism.